Email today:
September 20th, 2006
Dear Madam, Dear Sir,
Dear Shareholder,
I would like to take this opportunity to express my gratitude for your continued support in our company and address the recent developments that we have had to face over the last few days.
I would like to reiterate managements continued commitment to our company's future and to the implementation of our growth strategy. As we communicated to you in July, the Group 's revenues increased 4%over the nine months ended June 30 thanks to strong attendance and hotel occupancy growth in our third quarter. These encouraging results reflected the Group 's strategy of increasing growth through innovative marketing and sales efforts in conjunction with our multi-year investment program.
I also want to acknowledge and recognize the many thousands of cast members who always make great guest service their top priority to ensure the best possible experience for our guests and this despite the fact that we have recently been challenged by various labor activities. While we continue to preserve the quality of our product, management has opened discussions in an effort to arrive at a favorable outcome for all parties.
In addition, our share price has been subject to ongoing volatility, which has been pronounced over the last few days. Our company has not received any specific information as to the reasons for this share price activity, but be assured that we are closely monitoring the evolution of the Euro Disney share price and we will continue to concentrate all of our efforts on improving the company 's financial performance.
It is clear that our objective remains our commitment to live up to the confidence that you have shown us over the years and I will update you on our company 's performance when we release our annual results for fiscal year 2006 in early November.
Yours sincerely,
Karl L.Holz
Chairman and CEO,Euro Disney S.A.S.